Diversification Archives - Page 13 of 20

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Blue Heron Oasi, LLC #5153 – 5177 | NEVADA – FUNDED

Blue Heron Oasi, LLC #5153 – 5177 | NEVADA – FUNDED

First Trust Deed collateralized by nearly 13 acres of residential land near the corner of Warm Springs and Pecos in Las Vegas, NV (approximately 11 miles south of downtown Las Vegas). Since going under contract on the land, the borrower has received approval to build four extra homes than the previous zoning allowed and to build two story homes instead of the one story that was previously permitted. The additional four homes have created an additional 20% of value that the previous owner was unable to “unlock”. Maybe more importantly, the homes will now be two story homes which will give them enough height to overlook the surrounding homes and have views of the Las Vegas Strip. “Strip” views, no matter the location within Las Vegas command a premium over surrounding properties. Once the property is purchased, the borrower will begin development on the site. Ignite Funding intends to be the development lender as well. Master Loan Amount: $6,960,000 Tranche Loan Amount: $290,000 Loan Type: This Master Loan will be sold in tranches, giving investors the opportunity to invest in one or more lots in the community. A breakdown of the lots is shown on the next page. Yield: 10.00%

By Izzy|July 26th, 2021|Funded Investments|0 Comments

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GGD Oakdale, LLC #5152 | MICHIGAN – FUNDED

GGD Oakdale, LLC #5152 | MICHIGAN – FUNDED

First Trust Deed collateralized by an approximately 136,000 square foot former Sears building which is part of the larger Jackson Crossing Shopping Mall in Jackson, MI (about 78 miles east of Detroit, MI). Current tenants in this mall include national brands such as Kohl’s, T.J. Maxx, Bed Bath & Beyond, Best Buy, and Target (these tenants occupy property inside the mall but not the collateral of this loan). Since acquiring the site in December of 2019, the borrower has demised the interior of the Sears building and updated the property to new building codes. Going forward, the borrower needs additional capital for the specific tenant improvements to the six new suites (the floor plan is on the next page). Tenants such as Hobby Lobby, Burlington, and Planet Fitness have all signed leases or letters of intent. These three tenants would occupy over 80% of the space and the remaining three smaller suites would be rented to local tenants once they are procured. With average lease rates of $7.00 per square foot, the property will generate enough cash flow to cover interest payments with just the three tenants already identified. Loan Amount: $10,000,000 Yield: 10.5% (Principal Balance ≥ $100,000); 10.0% (Principal

By Izzy|July 26th, 2021|Funded Investments|0 Comments

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Dixie Highway Storage, LLC #5151 | FLORIDA – FUNDED

Dixie Highway Storage, LLC #5151 | FLORIDA – FUNDED

First Trust Deed collateralized by a 1.37-acre parcel of land in North Miami Beach Florida which is a suburb of Miami and approximately 17 miles north of downtown Miami, FL. The property is fully entitled with zoning and site plans in place for a 7- story, 163,660 SF Self-Storage Facility with 1,081 climate-controlled storage units. The site is in an Opportunity Zone in a densely populated area surrounded by several major new developments (see page two for a proximity map). Due to the fact the property is located within an opportunity zone, there are some tremendous tax advantages available to the borrower if they hold the property for at least 10 years which they plan to do. This is one of four properties the borrower is currently in escrow to purchase in Florida. Given the influx of residence and the state’s pro-business mindset, the borrower believes it is an area primed for long term growth. Loan Amount: $4,500,000 Yield: 10.5% (Principal Balance ≥ $100,000); 10.0% (Principal Balance < $100,000) Interest is paid monthly in arrears with payments due on the 1st of each month with a 10-day grace period. Term: 9 months with an optional nine-month extension period at maturity.

By Izzy|July 22nd, 2021|Funded Investments|0 Comments

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Hurry It Up We Are Burning Daylight, LLC #5150 | NEVADA – FUNDED

Hurry It Up We Are Burning Daylight, LLC #5150 | NEVADA – FUNDED

The collateral for this loan is 1.88 acres of land located in Sandy Valley, NV which is about 34 miles southeast of the M Resort (the south point of the Las Vegas Strip). Since acquiring the property in June of 2020, the borrower has worked with the city to allow for the construction of a 10,500 square foot building. The property is 100% preleased to Family Dollar which is a wholly owned subsidiary of Dollar Tree and has been in operations for over 60 years and currently has over 15,000 stores and 250,000 employees. This is one of 600 planned new stores this year for Dollar Tree. Construction will begin immediately following the funding of this loan and is expected to be completed in seven months. Loan Amount: $898,000 Yield: 10.5% (Principal Balance ≥ $100,000); 10.0% (Principal Balance < $100,000) Interest is paid monthly in arrears with payments due on the 1st of each month with a 10-day grace period. Term: Nine months with an optional ninemonth extensions at maturity.

By Izzy|July 21st, 2021|Funded Investments|0 Comments

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Dragonstone, LLC #5149 | NEVADA – FUNDED

Dragonstone, LLC #5149 | NEVADA – FUNDED

First Trust Deed collateralized by a finished .67-acre residential lot located in the prestigious master plan community of McDonald Highlands in Henderson, Nevada. Since acquiring the property about two years ago, the borrower has been working with the city and master plan developer to get approval of a lot split. It is anticipated that the final lot split will be recorded by December which will allow the borrower to sell the lots individually. Each of the two proposed lots will have unobstructed views of the Las Vegas valley, including the infamous Las Vegas strip. Additionally, it is anticipated that land will be added to this lot from the masterplan builder to make each of the two proposed lots a half acre each. Loan Amount: $1,350,000 Yield: 10.5% (Principal Balance ≥ $100,000); 10.0% (Principal Balance < $100,000) Interest is paid monthly in arrears with payments due on the 1 st of each month with a 10-day grace period. Term: 9 months with one optional 9-month extension period at maturity.

By Izzy|July 19th, 2021|Funded Investments|0 Comments

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Rhino Holdings Manitowoc, LLC #5148 | WISCONSIN – FUNDED

Rhino Holdings Manitowoc, LLC #5148 | WISCONSIN – FUNDED

First Trust Deed collateralized by an approximately 87,000 square foot former Shopko store in Manitowoc, WI (about 80 miles north of Milwaukee, WI). Although the property is currently vacant, the borrower has a lease ready to be signed with a national retailer to occupy about 20% of the property. Once the new tenant is signed up (shortly after acquiring the property), the borrower will begin the renovation work on the property the tenant has requested. With the remaining unoccupied space, the borrower will hire a local leasing agent to get the space filled. Additionally, the borrower will get the remaining space into a position where only minimal tenant improvements will need to be completed prior to occupancy. Loan Amount: $3,200,000 Yield: 10.5% (Principal Balance ≥ $100,000); 10.0% (Principal Balance < $100,000) Interest is paid monthly in arrears with payments due on the 1st of each month with a 10- day grace period. Term: Nine months with two optional nine-month extension periods at maturity

By Izzy|July 14th, 2021|Funded Investments|0 Comments

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Rhino Holdings Hermitage, LLC #5147 | PENNSYLVANIA – FUNDED

Rhino Holdings Hermitage, LLC #5147 | PENNSYLVANIA – FUNDED

First Trust Deed collateralized by an approximately 40,000 square foot former Loves Furniture store in Hermitage, PA (about 90 miles east of Cleveland, OH and 70 miles north of Pittsburgh, PA). Although the property is currently vacant, the borrower has a lease ready to be signed with two national retailers to occupy over 60% of the property. Once these new tenants are signed up (shortly after acquiring the property), the borrower will begin the renovation work on the property the tenant has requested. With the remaining unoccupied space, the borrower will hire a local leasing agent to get the space filled. Additionally, the borrower will get the remaining space into a position where only minimal tenant improvements will need to be completed prior to occupancy Loan Amount: $2,600,000 Yield: 10.5% (Principal Balance ≥ $100,000); 10.0% (Principal Balance < $100,000) Interest is paid monthly in arrears with payments due on the 1st of each month with a 10- day grace period. Term: Nine months with two optional nine-month extension periods at maturity.

By Izzy|July 14th, 2021|Funded Investments|0 Comments

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Sargem Management, LLC #5139-5145 | NEVADA – FUNDED

Sargem Management, LLC #5139-5145 | NEVADA – FUNDED

First Trust Deed collateralized by just over 18 acres of land in North Las Vegas, NV. Although the property is currently a level piece of dirt, it had a vibrant past. The property was home to apartments beginning in the early 1960’s and transitioned into low-income housing in the 80’s. As time went on, the property became very rundown, and riddled with crime. After the Department of Housing and Urban Development foreclosed on the previous owner during the financial crisis of 2008, the borrower began working with HUD and the city of North Las Vegas to plan what will eventually become a key piece to the city. The borrower formally acquired the property in October of last year for over $3,000,000 and will formally obtain city approval for an eightbuilding medical complex on 7/21/21. The borrower will then construct and sell each of the buildings once completed which is anticipated to begin in about a year Loan Type: This Master Loan will be sold in tranches, giving investors the opportunity to invest in one or more lots in the complex. Master Loan Amount: $2,600,00 Tranche Loan Amount: Ranging between $121,000 and $604,000 Yield: 10.00% Interest is paid monthly in arrears

By Izzy|July 7th, 2021|Funded Investments|0 Comments

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Primo Holdings, LLC #5135 | NEVADA – FUNDED

Primo Holdings, LLC #5135 | NEVADA – FUNDED

The collateral for this first position loan is an approximately 29-acre site in unincorporated Clark County, just south of Sloan, NV (approximately 10 miles south of “The Strip” in Las Vegas, NV). Although the current zoning classification is Rural Open Land, the county has already approved a plan to rezone the project to a Commercial Tourist designation. Under this newly planned designation, the borrower intents to build three industrial distribution facilities totaling more than 440,000 square feet. In addition to this planned facility, the borrower also owns the land on the other side of the highway which they will construct into another industrial building. Although it is not within the borrower’s current plans, they have received nearly a dozen offers to buy the property with offers up to nearly $12,000,000. This is a piece of property that has not changed ownership in nearly 30 years. The principals of the borrower have worked in the industrial and retail sectors of real estate in and around Las Vegas for over three decades. Loan Amount: $7,000,000 Yield: 11% regardless of investment size. Interest is paid monthly in arrears with payments due on the 1st of each month with a 10-day grace period. Term:

By Izzy|June 16th, 2021|Funded Investments|0 Comments

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Meisner Construction, LLC #5134 | MONTANA – FUNDED

Meisner Construction, LLC #5134 | MONTANA – FUNDED

The collateral for this first position loan is an approximately .6-acre lot in Bigfork, MT (approximately 100 miles north of Missoula, MT). Since acquiring the property earlier this year, the borrower has finalized plans with the community and city to construct a 2,450 square foot home on the site. This 50-lot community sits near the shores of the picturesque Swan Lake. This home will consist of four bedrooms and three bathrooms. Additionally, there will be a two-car garage and over 400 square feet of covered patio areas. Loan Amount: $490,000 Yield: 10.5% (Principal Balance ≥ $100,000); 10.0% (Principal Balance < $100,000) Interest is paid monthly in arrears with payments due on the 1st of each month with a 10-day grace period. Interest is paid monthly in arrears with payments due on the 1st of each month with a 10-day grace period. Term: Nine months with three optional nine-month extensions at maturity.

By Izzy|June 15th, 2021|Funded Investments|0 Comments